Ryan Goldstein, President/CEO, gave a venture pitch earlier today to a panel from the Wharton Venture Initiation Program (Wharton VIP). This round of applications was even more competitive than usual, with 42 applicants (many of whom were Wharton MBA students) for only about 5 available spots. ChronoWake has been officially accepted into this very selective program.
In Phase I, Wharton VIP assists in transitioning from the business overview stage to a fully-developed executive summary or business plan. Through workshops, group advising with an accomplished professional, the use of VIP workspace, and various networking contacts, Wharton VIP helps to hone venture concepts, explore venture viability, and prepare for venture implementation. In Phase II, the ventures are developed further, implementation begins, a post-VIP venture strategy is devised, and seed capital of $2,500 is provided. Acceptance into this exclusive program is a huge step forward for ChronoWake.